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Successful Downtown Heredia Bar Business for sale 130 seating For Sale

US $149,000
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  • Overview & Description

Overview

  • MLS ID: 85340
  • Price: US $149,000
  • Floor Size: 250 (m2)
  • Construction Area: 2690 (sq.ft.)
  • Location: Heredia and Cariari
  • City: Heredia
  • Property Type: Commercial properties
  • Specific Property Type: Commercial Business

Property Description

Successful Downtown Heredia Bar Business for sale 130 seating. Costa Rican Style bar/restaurant for sale (American owner) that’s got it all; a great location, established clientèle, recognized name, complete equipment/inventory, with all necessary permits and most importantly, sales that rank it among the most successful bar/restaurants in all of Heredia.

1. Why this is a great investment opportunity:

Location

The large bar/restaurant is located close to the National University in downtown Heredia – this university happens to be the second-largest in the country of Costa Rica and is full of thirsty (and hungry) customers.

Success/growth

Besides the super location, this Successful Downtown Heredia Bar Business for sale 130 seating is among the 5 top bars in downtown Heredia in purchases and sales and has “Top Bar” status (the highest available classification according to the National Brewery – Florida S.A. in relation to total purchases). Purchase receipt totals may be shown to any serious buyers.

Over the past 5 years, the bar/restaurant has grown in size as well as popularity and thus finds itself firmly established among the most well-known bars in downtown Heredia, something that helps in insuring continued success and growth.

Permits

The successful Downtown Heredia Bar Business comes with all of the necessary operating permits, along with the ability to operate between 11:00 AM until 2:30 AM (most bars must close at midnight) and is completely legal, debt free, and may operate without restriction in so far as relation to use of the liquor and restaurant licenses. All permits and papers may be shown to serious buyers.

Capacity

The bar/restaurant has the capacity to seat up to 130 people and including standing room, total capacity expands to more than 200.

Outdoor area

Just under a year ago, the bar opened a large new section for outdoor seating, effectively increasing sales, customer traffic, and the potential for continued growth. Many customers have come to prefer the outdoor area because of it’s breezy and tropical beach-like feel that is completely unique among businesses in downtown Heredia. In fact, there is not a single competitor in the downtown area that offers an outdoor section where customers can eat and drink alcoholic beverages. This uniqueness creates a competitive advantage that has enhanced the business in many ways, namely allowing it to gain market share from it’s competitors while also generating new customer traffic and growth among university students looking for an alternative to the norm.

Hookah

The bar/restaurant is the ONLY bar that offers hookah in all of Heredia and one of only 2 in all of the central valley (half of the population of the entire country), giving it a virtual monopoly on hookah and bringing in customers from all parts of the country. Hookah (or narguila in Spanish) is the Arabian water pipe that is used to smoke flavors. While the bar/restaurant sells much more beer and food than hookah, it is our third source of income before liquor and cocktails and produces the best profit margin (600%) while at the same time nearly guaranteeing that the customer stays for at least 45 minutes (what each coal takes to burn out) and potentially much longer as you can put up to 4 coals, one after the other, to continue smoking for up to 3 hours. It also makes people thirsty and those that order hookah almost always get at least one drink to accompany it and often also order food.

Excellent Marketing and Customer engagement

The current owner has done a great effort to establish the bar and it’s name as a recognized brand, both on and off-line.

2. Room for growth:

More food

Currently, food represents only 25% of sales of the successful Downtown Heredia Bar Business and there is a lot of room to expand sales of food. The place is currently known and used mostly as a bar, and there is still a lot of opportunity for growth offering lunch menus, or promoting more aggressively snacks and side dishes (from pretzels to french fries).

Combining hookah with beer and comfort food might also be a successful combination.

Improvements in infrastructure

Closing off the outdoor lounge section from the sidewalk to achieve more privacy and less noise could be an attractive option. Depending on desired taste, there are several more changes that could be made to increase sales and enhance appearance. Behind the newly-constructed section there is additional space that could be used to expand seating even further.

Opening Hours

Currently, the bar stays open until midnight, except on friday and saturday until 2.30am. Since
the bar has the permit, there are 2.5 more hours that could be taken advantage of sunday through thursday.

3. Conditions of sale

This bar has a very complete set of inventory and furniture as well as a fantastic team of experienced, hard-working employees. As very good relations and negotiations have been maintained with it’s suppliers (due to high sales volume of their products), the bar/restaurant is able to consistently access the lowest market prices for their inventory as well as receive the support and sponsor from large companies such as La Florida (the National Brewery), Pipasa (the country’s largest meat producer), Coca-Cola and more. A true turn-key operation, if the “Sociedad Anonima” (similar to a corporation, it is the legal body that would allow the complete transfer of all goods and assets of the business in a single transaction) is bought today, tomorrow you begin work without missing a beat.

The following would be included under the sale of the Sociedad Anonima:

• All physical assets and goods, including all inventory, furniture, etc.
• All permits and licenses (food, licor, health permits, municipality permits, tax registration, employee government insurance).
• All social media (pages on Facebook, Instagram, Twitter, etc.)
• Contracts with suppliers to continue low purchase price of goods.
• Registered business name and logo.
• Rental contract (auto-renewal every 3 years, giving owner flexibility to either stay long-term or quit within 3-year time period for any reason without penalty.

To put it more simply, everything is included in the sale other than the rental property which houses it; it is a complete, true turn-key business, and one of the most promising that we have seen recently due to the reasons listed above. With a fantastic location, great team of employees, continuous growth and established, time-tested sales volume ranking it among the highest in the area, there really is very little more you could ask of a turn-key business.

Contact me now to view this successful Downtown Heredia Bar Business for sale.

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